Although Social Security is a problem, some projections indicate that there's a much bigger time bomb ticking in the federal budget, and that's Medicare. In 2000, the cost of Social Security was 5.48% of the gross domestic product, increasing by 0.04% of the GDP per year. In 2000, the cost of Medicare was 1.84% of the gross domestic product, increasing by 0.17% of the GDP per year. (Source: Congressional Budget Office) a. Write a function that models the cost of Social Security as a percentage of the GDP x years after 2000. b. Write a function that models the cost of Medicare as a percentage of the GDP x years after 2000. c. In which year will the cost of Medicare and Social Security be the same? For that year, what will be the cost of each program as a percentage of the GDP? Which program will have the greater cost after that year?

Although Social Security is a problem, some projections indicate that there's a much bigger time bomb ticking in the federal budget, and that's Medicare. In 2000, the cost of Social Security was 5.48% of the gross domestic product, increasing by 0.04% of the GDP per year. In 2000, the cost of Medicare was 1.84% of the gross domestic product, increasing by 0.17% of the GDP per year. (Source: Congressional Budget Office) a. Write a function that models the cost of Social Security as a percentage of the GDP x years after 2000. b. Write a function that models the cost of Medicare as a percentage of the GDP x years after 2000. c. In which year will the cost of Medicare and Social Security be the same? For that year, what will be the cost of each program as a percentage of the GDP? Which program will have the greater cost after that year?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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